NH SELLS ITS STAKE IN SOTOGRANDE RESORT, SPAIN

NH Hoteles has sold its 97% stake in the Sotogrande resort in southern Spain to Cerberus and Orion Capital for €225 million, which will see the Spanish group receive a net return of €178 million. The deal includes the 148-room NH Almenara hotel, the 106-room NH Sotogrande hotel, other real estate including golf courses and development land.